Barclays Forecasts Strong Price Appreciation for IDACORP (NYSE:IDA) Stock

IDACORP (NYSE:IDA) had its target price boosted by analysts at Barclays from $149.00 to $159.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the energy company’s stock. Barclays‘s price objective indicates a potential upside of 7.21% from the company’s current price.

IDA has been the subject of a number of other reports. UBS Group boosted their price target on IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. Wells Fargo & Company downgraded IDACORP from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $129.00 to $118.00 in a research note on Tuesday, January 20th. BTIG Research reaffirmed a “buy” rating and set a $156.00 target price on shares of IDACORP in a research note on Friday, January 30th. Finally, Morgan Stanley set a $155.00 target price on IDACORP in a research note on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.25.

IDACORP Trading Up 1.4%

Shares of NYSE:IDA opened at $148.31 on Wednesday. IDACORP has a 12-month low of $108.15 and a 12-month high of $148.66. The company has a market capitalization of $8.15 billion, a PE ratio of 25.14, a PEG ratio of 2.85 and a beta of 0.54. The business has a 50 day moving average of $140.83 and a two-hundred day moving average of $133.87. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, February 19th. The energy company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. IDACORP had a return on equity of 9.36% and a net margin of 17.84%.The company had revenue of $405.24 million during the quarter, compared to the consensus estimate of $533.06 million. During the same period in the previous year, the company posted $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, analysts forecast that IDACORP will post 5.81 EPS for the current year.

Insider Buying and Selling at IDACORP

In other news, VP Julia A. Hilton sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $142.79, for a total transaction of $142,790.00. Following the completion of the transaction, the vice president directly owned 2,313 shares of the company’s stock, valued at $330,273.27. This represents a 30.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IDA. Orion Porfolio Solutions LLC raised its stake in IDACORP by 3,215.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after purchasing an additional 586,221 shares during the last quarter. Zimmer Partners LP acquired a new position in IDACORP in the 3rd quarter valued at $71,031,000. Soros Fund Management LLC acquired a new position in IDACORP in the 2nd quarter valued at $46,919,000. Capital Research Global Investors acquired a new position in IDACORP in the 4th quarter valued at $44,511,000. Finally, Invesco Ltd. raised its stake in IDACORP by 139.4% in the 3rd quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock valued at $78,208,000 after purchasing an additional 344,622 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.